Canadian Imperial Bank Stock Market Value
| CM Stock | CAD 65.16 0.45 0.69% |
| Symbol | Canadian |
Canadian Imperial Bank Price To Book Ratio
Canadian Imperial 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to Canadian Imperial's stock what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of Canadian Imperial.
| 05/06/2022 |
| 04/25/2024 |
If you would invest 0.00 in Canadian Imperial on May 6, 2022 and sell it all today you would earn a total of 0.00 from holding Canadian Imperial Bank or generate 0.0% return on investment in Canadian Imperial over 720 days. Canadian Imperial is related to or competes with Element Fleet, Martinrea International, and Mullen. Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and service... More
Canadian Imperial Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure Canadian Imperial's stock current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess Canadian Imperial Bank upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.8015 | |||
| Information Ratio | 0.0262 | |||
| Maximum Drawdown | 3.85 | |||
| Value At Risk | (1.22) | |||
| Potential Upside | 1.21 |
Canadian Imperial Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Canadian Imperial's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Canadian Imperial's standard deviation. In reality, there are many statistical measures that can use Canadian Imperial historical prices to predict the future Canadian Imperial's volatility.| Risk Adjusted Performance | 0.0914 | |||
| Jensen Alpha | 0.0399 | |||
| Total Risk Alpha | (0.01) | |||
| Sortino Ratio | 0.0267 | |||
| Treynor Ratio | 0.1363 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Canadian Imperial's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Canadian Imperial Bank Backtested Returns
We consider Canadian Imperial very steady. Canadian Imperial Bank secures Sharpe Ratio (or Efficiency) of 0.14, which signifies that the company had a 0.14% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Canadian Imperial Bank, which you can use to evaluate the volatility of the firm. Please confirm Canadian Imperial's Risk Adjusted Performance of 0.0914, mean deviation of 0.6443, and Downside Deviation of 0.8015 to double-check if the risk estimate we provide is consistent with the expected return of 0.12%. Canadian Imperial has a performance score of 11 on a scale of 0 to 100. The firm shows a Beta (market volatility) of 0.78, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, Canadian Imperial's returns are expected to increase less than the market. However, during the bear market, the loss of holding Canadian Imperial is expected to be smaller as well. Canadian Imperial Bank right now shows a risk of 0.83%. Please confirm Canadian Imperial Bank semi variance, and the relationship between the treynor ratio and daily balance of power , to decide if Canadian Imperial Bank will be following its price patterns.
Auto-correlation | -0.44 |
Modest reverse predictability
Canadian Imperial Bank has modest reverse predictability. Overlapping area represents the amount of predictability between Canadian Imperial time series from 6th of May 2022 to 1st of May 2023 and 1st of May 2023 to 25th of April 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Canadian Imperial Bank price movement. The serial correlation of -0.44 indicates that just about 44.0% of current Canadian Imperial price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.44 | |
| Spearman Rank Test | -0.34 | |
| Residual Average | 0.0 | |
| Price Variance | 33.17 |
Canadian Imperial Bank lagged returns against current returns
Autocorrelation, which is Canadian Imperial stock's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting Canadian Imperial's stock expected returns. We can calculate the autocorrelation of Canadian Imperial returns to help us make a trade decision. For example, suppose you find that Canadian Imperial has exhibited high autocorrelation historically, and you observe that the stock is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
Canadian Imperial regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If Canadian Imperial stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Canadian Imperial stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Canadian Imperial stock over time.
Current vs Lagged Prices |
| Timeline |
Canadian Imperial Lagged Returns
When evaluating Canadian Imperial's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Canadian Imperial stock have on its future price. Canadian Imperial autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, Canadian Imperial autocorrelation shows the relationship between Canadian Imperial stock current value and its past values and can show if there is a momentum factor associated with investing in Canadian Imperial Bank.
Regressed Prices |
| Timeline |
Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards Canadian Imperial in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, Canadian Imperial's short interest history, or implied volatility extrapolated from Canadian Imperial options trading.
Pair Trading with Canadian Imperial
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Canadian Imperial position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Canadian Imperial will appreciate offsetting losses from the drop in the long position's value.Moving together with Canadian Stock
| 0.86 | WMT | Walmart Inc CDR | PairCorr |
| 0.77 | AMZN | Amazon CDR | PairCorr |
| 0.71 | BRK | Berkshire Hathaway CDR | PairCorr |
Moving against Canadian Stock
| 0.74 | UNH | UnitedHealth Group CDR | PairCorr |
| 0.66 | SBUX | Starbucks CDR | PairCorr |
The ability to find closely correlated positions to Canadian Imperial could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Canadian Imperial when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Canadian Imperial - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Canadian Imperial Bank to buy it.
The correlation of Canadian Imperial is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Canadian Imperial moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Canadian Imperial Bank moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Canadian Imperial can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out Canadian Imperial Correlation, Canadian Imperial Volatility and Canadian Imperial Alpha and Beta module to complement your research on Canadian Imperial. You can also try the Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.
Complementary Tools for Canadian Stock analysis
When running Canadian Imperial's price analysis, check to measure Canadian Imperial's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Canadian Imperial is operating at the current time. Most of Canadian Imperial's value examination focuses on studying past and present price action to predict the probability of Canadian Imperial's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Canadian Imperial's price. Additionally, you may evaluate how the addition of Canadian Imperial to your portfolios can decrease your overall portfolio volatility.
| Economic Indicators Top statistical indicators that provide insights into how an economy is performing | |
| Odds Of Bankruptcy Get analysis of equity chance of financial distress in the next 2 years | |
| Equity Forecasting Use basic forecasting models to generate price predictions and determine price momentum | |
| Instant Ratings Determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| FinTech Suite Use AI to screen and filter profitable investment opportunities | |
| Fundamentals Comparison Compare fundamentals across multiple equities to find investing opportunities | |
| Portfolio File Import Quickly import all of your third-party portfolios from your local drive in csv format | |
| Bonds Directory Find actively traded corporate debentures issued by US companies | |
| Share Portfolio Track or share privately all of your investments from the convenience of any device | |
| Stocks Directory Find actively traded stocks across global markets | |
| Piotroski F Score Get Piotroski F Score based on the binary analysis strategy of nine different fundamentals | |
| My Watchlist Analysis Analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like | |
| Efficient Frontier Plot and analyze your portfolio and positions against risk-return landscape of the market. |
Canadian Imperial technical stock analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, stock market cycles, or different charting patterns.